Reuters- United Capital Asset Management said on Tuesday it will continue operating its Horizon Strategy group hedge funds that invested in subprime-mortgage bonds after temporarily halting paymentsto investors.
The company said it received an unusually high number of redemption requests from investors, including one from an investor who put up nearly one quarter of the funds’ money, due to volatility in the structured finance market in June.
The funds hold most of the firm’s assets under management, which stood at about $619 million as of March.
